As Prechter would say, risk is "All one market". Therefore using Bitcoin as a proxy for social mood we see that it's barely hanging by the 50 day, as I write...
Bitstamp, $USD:
And hard to believe but free-money bailouts, printing money, and ponzi borrowing didn't eliminate the risks left over by the financial crisis...
Closely followed trader Art Cashin told CNBC on Monday that the Bank for International Settlements just came out with a "wild card" remark on the market becoming vulnerable to another 2008-type financial crisis.
From the BIS report:
"A gap opened up between surging measures of policy uncertainty and record-low financial market volatility, while a number of indicators pointed to increased tail risks. Pricing anomalies that emerged in the aftermath of the Great Financial Crisis (GFC) retreated but did not disappear"
What they purposefully didn't say is that Central Banks engineered this "gap" between volatility and uncertainty:
As risk has risen, complacency has also risen, not just in terms of low volatility but also in terms of capital at risk:
As indicated above, it was a RISK OFF day in the casino. The Nasdaq 100 count remains intact following today's reversal of fortune...
Amazon gave back the $1,000 level and broke its trendline:
Faceplant gapped up to a new all time high and then closed on the lows of the day.
Tempting fate headline of the day...
In 2008 when oil was at $145, stocks were sinking. It took a while but eventually oil came down with stocks...
In 2014 it happened again. Crude started another steep slide from $107, but at the same time stocks managed to move steadily higher.
And then they imploded, led by Tech:
